Changes in home loan interest rates continue to reshape the financial landscapes of households across the nation. According to ASB economists, a staggering 90 per cent of the strain stemming from these rate hikes has been borne by households, revealing a significant economic challenge on the horizon. ASB’s senior economist,…

According to a report released by ASB Bank, New Zealand households are likely to experience another difficult year financially. Costs are forecast to rise by an average of $70/week, as high interest rates are expected to continue for well into next year at least. According to Mark Smith, ASB Bank’s…

According to a CoreLogic report released on Thursday, the share of first-time home buyers has risen to a record high. This high of 27 per cent might be encouraging for other potential first-time buyers, but any cause for optimism is likely to be cancelled out by future house price rises…

The New Zealand stock market fell in August by 4.2 percent and 2.2 percent the following month. The market has also dropped by another 3.6 percent in October so far. Goodson went on to explain that the market is under pressure from a pincer movement, as it’s caught between modest…

The housing market appears to be back on the path to recovery as the latest average home value was found to have risen by 0.9 per cent for the three months ending in August. This is according to Quotable Value (QV), whose House Price Index has remained largely unchanged in…

The Banking Ombudsman annual report confirms that about a third of the annual investigations it conducts are now bank-related, with victims suffering an average loss of $57,000 and costing an overall of over $200 million a year. Ombudsman Nicola Sladden said that the sharp increase in banking scams was worrying…

Credit arrears and business liquidations have risen to the highest level seen in the last four months and are headed towards pre-pandemic levels. Credit reporting firm, Centrix, has collected data indicating that 426,000 people were in credit arrears in July, representing 11.7 per cent of the active credit active population.…

In a bid to make the country’s tax system fairer, Minister for Finance, Grant Robertson, has confirmed that the government will be introducing legislation for a proposed digital services tax on large multinationals that make money off of Kiwi users of internet search engines, social media platforms, and online marketplaces.…

Mortgage payments are now accounting for about half of household income for many Kiwis according to a recent CoreLogic Housing Affordability Report. Data shows that mortgage holders were allocating 53 per cent of their income to making mortgage payments in the last quarter of 2022. This has now slightly dropped…

The Reserve Bank of New Zealand (RBNZ) has announced that it will be holding the official cash rate at 5.5 per cent as part of its Monetary Policy Statement. This is in keeping with analysts’ predictions and reaffirms the reserve bank’s position that the rate has reached a high enough…